United States

Poole on The outlook: Mississippi and the nation

In a speech on 'The outlook: Mississippi and the nation' given on 20 January, William Poole of the Federal Reserve Bank of St. Louis said US price pressures appear well controlled, but the Federal Reserve will move aggressively to protect low inflation…

Fed's Bies on the economy and retirement savings

In a speech on 'The economy and challenges in retirement savings' given on 18 January, Susan Schmidt Bies of the Federal Reserve said she foresaw a moderation of inflationary trends, which would allow the Fed to continue being "measured" in raising…

The Greenspan succession

In an article published this week Paul Krugman says the Bush administration will have a hard time finding a successor to Alan Greenspan, who is expected to retire next year. Feldstein and Hubbard are mentioned, but Krugman warns that appointing a "yes…

Interview with San Francisco Fed's Janet Yellen

Federal Reserve Bank of San Francisco president Janet Yellen gave an interview this week in which she expressed optimism about the US economy. The world economy looks on track for moderate growth and China has been trying to moderate its growth with the…

Greenspan lost credibility says Soros

Speaking at the World Economic Forum in Davos, George Soros the billionaire investor said Federal Reserve Chairman Alan Greenspan has lost credibility for driving US interest rates to a four-decade low and promoting tax cuts.

Chicago Fed National Activity Index, Dec 2004

The Chicago Fed National Activity Index (CFNAI) for December 2004 was +0.39, up markedly from +0.05 in November. Three of the four broad categories of indicators that comprise the index made positive contributions in December, while the employment…

When monetary tools start to lose their edge

This article asks what central bankers do when their monetary tools begin to lose their edge. This may be a question that the Federal Reserve is having to address at the moment, it says. The Federal Reserve's challenge seems to be that the linkage…

Philadelphia Fed Business Outlook Survey, Jan 2005

According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, January 2005, manufacturing activity in the region continues to expand, but at a slower pace than reported at the end of 2004. Many of the indicators, including general…

SF Fed's Yellen on the US economic outlook

In a speech on 'The US economic outlook' given on 20 January, Janet Yellen of the Federal Reserve Bank of San Francisco said US inflation should stay contained this year, while the risks to price stability are well balanced.

Deficit triggers rumbling at Fed

George Bush's longtime honeymoon with the Federal Reserve may be ending, this article suggests. The new element is a rising concern at the Fed about the US budget deficit, which hit $413 billion in 2004; a low and declining national savings rate and…

NY Fed's Geithner at the NAF's 2004 Dinner

In a speech at the National Academy Foundation's 2004 Dinner given on 8 December, Timothy Geithner of the Federal Reserve Bank of New York said that improving educational achievement, access to educational opportunity, and the level of public…

New directors for Chicago Fed

Two new members of the Federal Reserve Bank of Chicago's board of directors were announced on 10 January, as well as one new member of the bank's Detroit Branch board. In addition, the chairmen of both boards and the Seventh District representative to…

Geithner with a view from the New York Fed

In the speech 'A view from the Federal Reserve Bank of New York' given on 19 January, Timothy Geithner of the Federal Reserve Bank of New York said the U.S. expansion has proven quite resilient and we enter the new year with what appears to be a pretty…

Santomero on the economic outlook for the US

In a speech on 'Economic outlook for the U.S. and Greater Philadelphia area' given on 18 January, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy is in a "sustained expansion" with inflation under control, which should…

Federal Reserve Board - Beige Book, January 2005

The Federal Reserve published its January 2005 Beige Book survey on Wednesday 19 January. The report said U.S. economic activity continued to pick up in most of the country in late November through early January, but Cleveland, in the manufacturing…

Cleveland's Pianalto says rates must rise further

Sandra Pianalto, the president of the Federal Reserve Bank of Cleveland said in a speech that the Federal Reserve must be "prudent" and continue to raise short-term interest rates until central bankers are more certain that monetary policy is no longer…

Philadelphia Fed Business Outlook Survey, Dec 2004

According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, December 2004, activity in the region's manufacturing sector continues to grow. In this months survey the participants were asked about the impact of the weak dollar on…

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